Corporate tax amendments have been proposed in the Draft Taxation Laws Amendment Bill 2019, referred to as “initial 2019 TLAB.” The primary change is to address potential dividend stripping schemes, with comments due by 25 June 2019. Draft legislation is expected in July 2019.
To the extent that corporate reorganizations/dividends are envisioned in S. Africa, this legislation should be reviewed, with valuable comments provided to ensure fairness in the final legislation.
EY’s Global Tax Alert provides details on this development.
Click to access 2019G_002864-19Gbl_South%20Africa%20-%20Prop%20corp%20tax%20rules%20-%20anti-tax%20avoidance%20measures.pdf
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